GDP Calculation

Gross Domestic Product (GDP) measures the total value of all finished goods and services produced within a country over a specific period, usually a year. It can be calculated in three ways: by adding up all spending (consumer, business, government, and exports minus imports), by summing all income earned (wages, profits, taxes), or by counting the total value added at each stage of production. Essentially, GDP reflects the economic activity and health of a country, indicating how much is being produced and the overall economic performance.